Willis Annual Report Projects Flat Work Comp Rates in 2017

Willis Towers Watson predicts that workers' compensation rates will remain flat in 2017, adding another projection that the line is softening. In an annual report, titled "Marketplace Realities 2017," the brokerage projected that workers' compensation rates changes will range from reductions of 2.5% to increases of 2.5%. Willis noted that Florida is an exception because of the state Supreme Court's decision overturning a cap on claimant attorney fees. Although not mentioned in the report, the Florida Office of Insurance Regulation approved a 14.5% rate hike because of th...